What to SubmitEvery project has a deliverable or deliverables, which are the files that must be...

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What to SubmitEvery project has a deliverable or deliverables, which are the files that must be submitted before your project can be assessed. For this project, you must submit the following:Letter and Financial DataYou’ve promised to look over Daniel’s financial information and give him recommendations about some important decisions he will need to make regarding his business and personal life. You will submit a 250- to 300-word letter with your recommendations, as a Microsoft Word document, and the completedFinancial Data spreadsheetto support your recommendations.EmailAfter reading your letter, Daniel wants some advice regarding the future state of his business and how he can manage costs. You will respond to his email in 250–300 words, analyzing the scenarios he sent you.

Sumit · Accepted Answer

Student Name: Larry
Course Name: ECO-20044-XF057 Economic Cost of Decisions
This letter is in response to our conversation to look after the financial information and make recommendations based on my analysis. My recommendations are as follows:
1. In the excel file I have calculated the marginal revenue product of labor in the organization. From the calculation, we can see that the Marginal Revenue keeps decreasing as more workers are employed. This is because of the law of the diminishing Marginal Returns under which once the business reaches the optimal level of utilization any additional unit will reduce the marginal returns. This is because once the optimal level is reached additional unit will incur more cost than revenue. From the excel file we can see that the total number of worker/s that should be employed by the business should be 5 the MRPL at this level is $100 which is more than the Marginal labor cost,

What to Submit Every project has a deliverable or deliverables, which are the files that must be submitted before your project can be assessed. For this project, you must submit the following: Letter...

What to Submit

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